The Committee’s purpose is to provide oversight to ensure that:
- key risks are identified and addressed, and
- the Institute and Faculty of Actuaries (IFoA) adopts a sound approach to financial management and reporting.
The Committee's key responsibilities are detailed in its Terms of Reference.
The Committee comprises two lay members and two members of Council
The current members are:
- Trevor Spires - Lay Chair
- Donall Curtin - Lay member
- Kalpana Shah - Council member
- Kartina Tahir Thomson - Council member
James Harrigan is the Committee Secretary.
The IFoA's internal and external auditors attend all meetings of the Committee, as do relevant members of the Executive (Director of Operations, Head of Finance, Chief Risk Officer).
Under our governance arrangements, membership is restricted to lay members (ie non-actuaries) and to members of Council. As such, vacancies on the Audit and Risk Committee are not advertised to members of the IFoA.
You might also like
Jo Jones, Deputy Chief of Staff provides the Secretariat to the Executive Leadership Team
I will try to respond to email queries within five working days.
Filter or search events
Over recent months there has been a sharp rise in M&A activity involving British businesses, with interest from overseas, domestic buyers and Private Equity investors.
Frank Redington is recognised as one of the most influential actuaries of all time. In this talk, Craig will review some of Redington's most important ideas. He will identify the consistent actuarial principles that form a common thread across the contributions Redington made to a broad range of actuarial fields, and will highlight the ongoing relevance of Redington's thinking to 21st century actuarial practice.
The IFoA Mental Health working party look back over their week of blogs and podcasts considering all aspects of the relationship between mental health and life insurance. The expert panel spans adviser, underwriter and actuarial experience and they explore triggers for purchasing insurance relating to mental health, the various routes to insurance and how these may be more suited to different people depending on their conditions and preferences, the products and processes involved in purchasing these as well as what claims and support are available to policyholders and how to access them.
Part of the 'Finance in the Public Interest 2022' webinar series. If it was ever okay to consider your business in isolation from its surroundings, today it most definitely is not. Thinking about business within its surrounding system is now a necessity. The question we seek to discuss is: How should we prescribe the boundaries in which we consider problems to enable us to create better products and more resilient companies and systems?
What will happen to DC pension savers who see life annuities as poor VFM but still want an income for life? Pooled annuity funds could offer them a decent lifetime income while reducing significantly the complex choices and risk inherent in income drawdown. They could be the next generation of CDC pension schemes, slotting into the existing DC framework as a post-retirement option.
Investment risk-sharing is a fundamental part of whole-life collective defined contribution (CDC) pension schemes, such as the Royal Mail CDC. But how does investment risk-sharing benefit members? And does it favour some groups of members over others?